What are Meme Coins?

[FMCPAY_GLOBAL]

What are meme coins?

Meme coins are digital currencies that get their inspiration from the Internet and social media jokes and memes. Dogecoin was the first meme currency produced (DOGE). A Japanese Shiba Inu dog meme known as Doge served as the basis for the 2013 parody DOGE.

Meme coins frequently exhibit considerable volatility. They are primarily driven by the community and can become well-known overnight as a result of FOMO and online community recommendations. However, when investors start looking at the next meme coin, their price may suddenly drop.

Another characteristic of meme coins is that their supply is either enormous or limitless. While DOGE has no maximum supply and over 100 billion tokens are already in circulation, Shiba Inu (SHIB) has a total quantity of 1 quadrillion tokens. Since meme tokens typically lack a coin-burning mechanism, their abundant supply accounts for their comparatively low values. Millions of meme tokens can be purchased for just $1 USD.

Why are meme coins so popular?

Not only are meme-concept coins becoming more and more popular, but their token count is also increasing. Over 80% of the existent meme coins were created in the last two years. Most meme coins are created by a small portion of the community and are mainly modified versions of already existing ones. A testament of the different evolution from Dogecoin is the over 70 meme coins with dog themes.

Meme coins are brilliant, well-known for recording speedy increases, and capable of achieving astounding market capitalization and popularity levels in a very short amount of time; these quick pumps are caused by a few of the factors listed below.

Hype Marketing

Hype marketing has played out well for a good number of cryptocurrency projects.

Well-planned shills by a group of people could create thrills and lure potential investors into investing in a project despite having no clear information about the project. These projects sometimes involve prominent cryptocurrency influencers and mainstream celebrities to create these shills.

If done well, hype marketing could override utility and push a project to tangible price levels regardless of the proper utility it presents. This growth despite being organic is built on ‘unverified beliefs’ and bloated utility. Meme coins adopt this strategy and utilize it better than many other cryptocurrency projects. A successful shill exercise sends the token’s price to ‘the moon’.

Fear of Missing out (FOMO)

The constant price jerks witnessed in the crypto space are driven by ambitious investors jumping into new ‘exciting’ projects with hopes of making some gains or at least not missing out on the project’s potential success. Fear of missing out on further profits.

For meme coins, the price growth that follows the hype marketing is augmented with FOMO and more hype marketing. The price growth continues as long as this trend is sustained. Many meme coins gained hundreds of thousand followers mainly on the meme culture and way before they adopted a reasonable utility.

What are the most popular meme coins?

Dogecoin (DOGE)

Dogecoin (DOGE) was created in 2013 by software engineers Billy Markus and Jackson Palmer. It was inspired by the meme of a Shiba Inu dog and was intended to be a joke cryptocurrency to attract mainstream attention. As a fork of Litecoin (LTC), DOGE adopts the same Proof of Work (POW) mechanism, and it has no maximum supply.

Shiba Inu (SHIB)

Shiba Inu (SHIB) is the rival of DOGE and is often referred to as the “Dogecoin killer”. SHIB is also named after a Japanese dog breed. It was created by an anonymous developer named Ryoshi in August 2020. The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens, of which 50% were burnt and donated to charity. SHIB’s ecosystem also includes a decentralized exchange, an NFT art incubator, NFTs, and an NFT game.

Dogelon Mars (ELON)

Dogelon Mars (ELON) closely follows the doggy duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for his company SpaceX. ELON is a fork of Dogecoin and has a circulating supply of 557 trillion tokens. As of November 2021, ELON has surged over 3,780% since its launch in April 2021.

Akita Inu (AKITA)

There are many other meme coins using Japanese dog breeds as their mascots, such as Akita Inu (AKITA), Kishu Inu (KISHU), and Floki Inu (FLOKI). AKITA was heavily inspired by DOGE. It was launched on Uniswap as an ERC-20 token in February 2021. Its tokenomics is very similar to SHIB. Like SHIB’s developer Ryoshi, the AKITA team locked 50% of its total supply on Uniswap, while the remaining 50% was sent to Ethereum co-founder Vitalik Buterin. However, AKITA only has a total supply of 100 trillion tokens, which is 1/10 of the total supply of SHIB. AKITA gained traction alongside its fellow doggy coins in May 2021 and is seen by some community members as another “Dogecoin killer”.

Samoyedcoin (SAMO)

Samoyedcoin (SAMO) is a dog meme coin project built on the Solana blockchain. At launch, 13% of SAMO supply was airdropped to members of the community. According to their website, SAMO roadmap includes burning events, airdrop tools, a decentralized exchange (DEX), and the creation of NFTs. Samoyedcoin recently gained popularity due to a sudden increase in price. SAMO grew over 4,300% within a month. In October 2021, the price went from $0.005 to over $0.22 in roughly 30 days.

Kishu Inu (KISHU)

Kishu Inu (KISHU), another canine-themed meme coin, has grown exponentially since it launched in April 2021. KISHU includes participation rewards for active users, non-fungible tokens (NFTs), and a DEX called Kishu Swap. It has been growing in popularity and recorded over 100,000 holders and 2 billion dollars market capitalization within one month after its launch.

SafeMoon (SAFEMOON)

Another meme coin newcomer that capitalized on the rally was SafeMoon (SAFEMOON). It is a BEP-20 token launched on the BNB Smart Chain (BSC) in March 2021. SAFEMOON rewards long-term holders by penalizing those who sell the token with a 10% exit fee, of which half of the fees will be distributed to existing SAFEMOON holders, and the other half will be burnt. It attracted retail investors’ attention after it soared in April. As of November 2021, SAFEMOON has a 9418.54% ROI, according to CoinMarketCap.

How to buy meme coins?

You can buy the more popular meme coins such as DOGE and SHIB, on cryptocurrency exchanges like FMCPAY. FMCPAY is a centralized cryptocurrency exchange that enables you to buy and sell directly with other users through the online marketplace. For other less prominent meme coins, you can go to decentralized exchanges.

FMCPAY is launched in 2021 with licenses in the US. By charging a low transaction fee of 0.04 percent, the exchange has positioned itself as an open and seamless gateway for cryptocurrency newcomers. According to financial experts, FMCPAY Exchange is considered to be one of the world’s most trusted platforms for trading cryptocurrencies and digital securities registered in the USA.

Click to buy your favorite meme coins at FMCPAY exchange: https://fmcpay.com/exchange

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[Tytanowy Janusz]

Doge was a meme coin. Joke. Funny to some, not to others. But can a joke be funny for 10 years? Does it get funnier when repeated 1,000 more times? NO! It becomes annoying. And that's what meme coins are for normal users. A speculative/marketing phenomenon that died in 2022 and that we would rather like to forget ever existed. For normal investors, meme coins were a disgrace, for whales, meme coins were a way to mock the entire crypto market, and for scammers, meme coins were a harvest time. A disgrace to the entire crypto market, because we spent the whole of 2021 on bubbles of dogs and cats instead of financing new technologies. A lost year of the peak of the bull market and the peak of interest in crypto. The moment awaited since 2017. The huge capital that has flowed into crypto from new investors in this period has been sucked in by scammers in such a stupid way.

And now in the middle of 2023 OP is making a list of "What are Meme Coins and how to buy them"... Seriously, you can't go any lower.


https://pbs.twimg.com/media/FoNZ33pXkAAANl3?format=jpg&name=small

[Captain Corporate]

In short memecoins are what people use to lose money quickly, some people had absolutely no idea how trade and they ended up losing money but not a lot because you could just sell and get out. Then they invented stuff like NFT so they could lose money but at least there would be a proof of them losing money as well, they could show the NFT as a proof. Then Elon said "why are we spread too far in crypto while losing our money, we all lose it in different coins and tokens, we should get together and lose money all together". So they pumped doge and shiba, so they all lose together as a community, all together.

[DeathAngel]

I don’t think any of them have a real future as a means of payment in mainstream finance. I do think that you can make quick money on them & get out ASAP into safer, more reliable investments though & that’s the aim for most meme coin investors.

Do your own research but there are opportunities out there to do very well in these projects. Just don’t hold them long term.

[crwth]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

It's the first time I read of FMCpay. Any reviews anyone?

[Jackl87]

Meme coins are digital currencies that get their inspiration from the Internet and social media jokes and memes. Dogecoin was the first meme currency produced (DOGE). A Japanese Shiba Inu dog meme known as Doge served as the basis for the 2013 parody DOGE.
Meme coins frequently exhibit considerable volatility. They are primarily driven by the community and can become well-known overnight as a result of FOMO and online community recommendations. However, when investors start looking at the next meme coin, their price may suddenly drop.

First of all, it is pretty obvious that this is just a pretty badly hidden shill post for your exchange, but i don't really have a problem with that. The crypto space is still pretty much the wild west and a little bit of bad shilling is really not the worst that is going on here. To the topic of meme-coins. For me they are all just shitcoins that have no purpose. I can still understand, that a lot people are liking Dogecoin because it was the first of it's kind and really just created for fun it seems. All the other stupid meme-coins that were coming out since then and especially since Elon Musk made that tweets were simply created because the people behind it want to make a quick buck without any effort.

[Salahmu]

Meme coins are too risky to invest, I lost a lot of money investing on meme coins, so i can never invest on it again, though most daily traders make a lot profit investing on meme coins.

[jossiel]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

Most newbies that I've encountered not just in the forum but also IRL have been welcomed to meme coins, that's a far introduction for them and it's true that investing in meme coins is riskier these days because pump there is done.

It's the first time I read of FMCpay. Any reviews anyone?

I haven't seen someone review them but every time they create some topics like this, they always get to have that introduction being inserted in the discussion.

[Kavelj22]

Meme currencies cannot be defined without downloading them in their historical context, that is, in the context of events. The crypto field, like other sectors, gets waves in which investment aspirations turn to new opportunities. The ICO projects bubble in 2017 was one of the most important of these waves, which extended over a period of time until its market stabilized. And although the meme coins projects started in an early period (2014), the wave did not start until recently, as many other projects appeared, mainly led by Dodge.

[crwth]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

Most newbies that I've encountered not just in the forum but also IRL have been welcomed to meme coins, that's a far introduction for them and it's true that investing in meme coins is riskier these days because pump there is done.

That's probably the most interesting thing that they have seen aside from Bitcoin. I believe there are some pushbacks to what crypto currency is especially BTC and that might have become a kind of resort to meme coins because it is easy to relate to or something.

It's the first time I read of FMCpay. Any reviews anyone?

I haven't seen someone review them but every time they create some topics like this, they always get to have that introduction being inserted in the discussion.

Now that I have looked into the profile, I understand now. It's an advertisement. I hope someone, who tried it, would give an honest review or something.

[Silberman]

I don’t think any of them have a real future as a means of payment in mainstream finance. I do think that you can make quick money on them & get out ASAP into safer, more reliable investments though & that’s the aim for most meme coin investors.

Do your own research but there are opportunities out there to do very well in these projects. Just don’t hold them long term.

It is true that money can be made with meme coins but at the same time it is a very unreliable way to do it, so anyone thinking about investing in those coins to try to earn money will have to heavily depend on their luck in order to do so, and while for many newbies out there such a thing may seem like an attractive proposal, for those which actually know how to invest and trade the markets this seems like a terrible idea, which is why they have so much much disdain for meme coins and other similar projects.

[adaseb]

Back when doge was pumping you could of made good money with meme coins. Especially Shiba. However keep in mind, these are meme coins and all except perhaps doge most will head towards zero since most don’t have utility. You just need to get in while The hype is still there and get out when it runs out of steam.

Don’t hold these long term because they will eventually go to zero. They aren’t a long term investment like ETH or BTC. Too many end up bag holding for this reason.

[mich]

Well when it was only Doge meme coin I thought it was a nice idea. But now there is so many meme coins I think it is only becoming more of pump and dump and a joke.
There is no use for them really. The only meme coins I own in my portfolio are the original one Doge and Safemoon Inu. My portfolio is suffering big losses from me hodling these coins but I still will not sell them until they all recover.

[LogitechMouse]

I don’t think any of them have a real future as a means of payment in mainstream finance. I do think that you can make quick money on them & get out ASAP into safer, more reliable investments though & that’s the aim for most meme coin investors.

Do your own research but there are opportunities out there to do very well in these projects. Just don’t hold them long term.

DOGE might have because it's the most famous meme coin, and it has been accepted in most if not all of the centralized exchanges out there.

I feel regret that I invested into SAFEMOON back when meme coins are a hype. If only I just invested into DOGE at that time... but shit happens I guess, and I know that there are some here who also lost in investing into meme coins. TBH, if I will look at the best meme coins that's worthy of investing, I only see DOGE, but even that coin isn't a good long term hold for me, but it's a good short to mid term hold I guess. All of the other meme coins are considered shitcoins for me - including SHIB.

Like you said, always do your own research, and you will see that there are better coins worthy of investing your money than these meme coins. For the OP, we know that this is another form of advertising your exchange, and there's no problem with it. Can I ask if you can share how many users are using your exchange on a monthly basis?

[KingsDen]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

It's the first time I read of FMCpay. Any reviews anyone?

Even as the name implies, as Meme coin. It is not what someone will invest huge money and expect profits. It is a coin for opportunists and risk takers and what characteristics of this coin is that its success largely depends in the community's ability to hype the project.
Another thing about meme coins is their ability to be easily manipulated. For instance, dodge is at the mercy of Elon Musk and twitter. I don't actually know the hype that drives Shiba and how it will be able to redeem it from the button of the bear.

[jossiel]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

Most newbies that I've encountered not just in the forum but also IRL have been welcomed to meme coins, that's a far introduction for them and it's true that investing in meme coins is riskier these days because pump there is done.

That's probably the most interesting thing that they have seen aside from Bitcoin. I believe there are some pushbacks to what crypto currency is especially BTC and that might have become a kind of resort to meme coins because it is easy to relate to or something.

It's because they've been told that it's the type of crypto that has gained the most and all they hear is Elon, doge, shiba and meme coins. That's why they get to have the idea that the market isn't really all about bitcoin but most to meme coins.

It's the first time I read of FMCpay. Any reviews anyone?

I haven't seen someone review them but every time they create some topics like this, they always get to have that introduction being inserted in the discussion.

Now that I have looked into the profile, I understand now. It's an advertisement. I hope someone, who tried it, would give an honest review or something.

Yes, that's it!

An advertisement on their end while making some active discussions which isn't a new strategy that we've seen here.

[BIT-BENDER]

To be very honest many of this history already on this write up about memecoin aren’t Necessary, I don’t want to be a bearer of bad news but the obvious truth is that memecoin won’t get to the status is has once had.

We can all say the Elon musk effect that had Dogecoin hitting all time high after all time high may not be there anymore to keep the memecoin industry relevant infact I believe that the artificial intelligence invasion into crypto-currency space would be more bigger than NFT, memecoins.

[SirLancelot]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

It's the first time I read of FMCpay. Any reviews anyone?

Even as the name implies, as Meme coin. It is not what someone will invest huge money and expect profits. It is a coin for opportunists and risk takers and what characteristics of this coin is that its success largely depends in the community's ability to hype the project.
Another thing about meme coins is their ability to be easily manipulated. For instance, dodge is at the mercy of Elon Musk and twitter. I don't actually know the hype that drives Shiba and how it will be able to redeem it from the button of the bear.

In the early days of the meme coins, people are overwhelmed about their potential that they are risking a huge amount of money because they think its a short cut to becoming a billionaire or trillionaire. Some got lucky but later on, almost all meme coins are not pumping anymore.

As of now there are only two meme coins left who are alive and that is none other than Doge coin and Shiba Inu but they are rarely pumping as well so I don't think people are still attracted on them. As of now, the hype is on Arbitrum, Optimism, Space Id, and Zksync who also did an airdrop. They are not meme coins so they are a better investment for the long term.

[kaseygriffin]

Like many other things i observe, the problem of exaggerating trends happens over and over again, sometimes people keep talking about the potential based solely on community pump dump, which makes me feels very funny, but the reality is that there are still many successful projects on a small or large scale in such a way.
Responding or aiding an environment can be said to be very risky because I think it is also recognized here, where some exchanges just want to earn users and fees. That's the simplest reason why I look at the quality products that stick together, and the bad ones that find their way together.

[Yatsan]

It's a risk to invest in meme coins, and I suggest that you put money that you are willing to risk because it will be a problem if you risk everything. You need to know that you are getting into something that is not predictable and more volatile than Bitcoin because it needs to be established. Be careful with that for sure.

It's the first time I read of FMCpay. Any reviews anyone?

Even as the name implies, as Meme coin. It is not what someone will invest huge money and expect profits. It is a coin for opportunists and risk takers and what characteristics of this coin is that its success largely depends in the community's ability to hype the project.
Another thing about meme coins is their ability to be easily manipulated. For instance, dodge is at the mercy of Elon Musk and twitter. I don't actually know the hype that drives Shiba and how it will be able to redeem it from the button of the bear.

In the early days of the meme coins, people are overwhelmed about their potential that they are risking a huge amount of money because they think its a short cut to becoming a billionaire or trillionaire. Some got lucky but later on, almost all meme coins are not pumping anymore.

As of now there are only two meme coins left who are alive and that is none other than Doge coin and Shiba Inu but they are rarely pumping as well so I don't think people are still attracted on them. As of now, the hype is on Arbitrum, Optimism, Space Id, and Zksync who also did an airdrop. They are not meme coins so they are a better investment for the long term.

DOGE and Shib quite showed an increase lately probably because of altcoin season assumption. Many people in this industry believes that altcoin season has already started; Bitcoin dominance ease down as well as with other major tokens such as ethereum and XRP while smaller ones like MRK are the ones showing green marks in the market. But going back, memecoins are solely dependent with the token's popularity in this industry. There are no utility for this concept but what makes it still good is that impression on it has long term effect. Proof? Check how many people are still hoping for a $1 coin from such market prices. And this could be enough to make a coin alive for the investors.